Sector Alpha Week of 2026-07-31
Sector Alpha — machine-written from the numbers · Data as of 2026-07-31

Strides Pharma Science Ltd

STAR
Pharma - Formulators

Strides Pharma Science Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.

The sharpest disagreement: profits are rising, but only 42% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a confirmed uptrend (166 weeks in) while the P/E sits at the 51st percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +55.7% year on year, and 42% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Stage
Mixed
partial read
Price
₹1,025
+22.5% 1Y
P/E
16.3×
51st pctile
of its own 10-year range
Revenue (Jun 26)
₹1,265 Cr
+12.9% YoY
Profit (Jun 26)
₹165 Cr
+55.7% YoY
Operating margin
18.0%
−1.0 pp YoY
ROCE
18%
FY26
ROIC
11.8%
vs WACC 12.0% → −0.2 pp
Cash conversion
42%
of profit, last 3 FY
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Strides Pharma Science Ltd trades at ₹1,025, in a confirmed uptrend and 166 weeks into that stage. That is +5.0% against its own 200-day average. It sits at 63% of a 52-week range of ₹796 to ₹1,157. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a confirmed uptrend — week 166 of stage 2, confirmed. At ₹1,025 it trades +5.0% versus its 200-day average and sits at 63% of its 52-week range (₹796–₹1,157).

Jul 26: ₹1,025 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+5.0% versus the 200-day line, week 166 of stage 2
Price50-day avg200-day avg
S2₹1,236₹950₹664₹379₹93.3₹1,025₹976Jul 23May 24Feb 25Nov 25Jul 26
S2₹1,236₹950₹664₹379₹93.3₹1,025₹976Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (549 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +105% while the NIFTY 500 moved +276% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Strides Pharma Science Ltd trades at 16.3× P/E, mid-range by its own standards (51st percentile). Its long-run median P/E is 16.1×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 16.3× is mid-range by its own standards (51st percentile), against a long-run median of 16.1× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 16.3× vs a 16.1× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 48× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (51st percentile)
P/EMedianEPS (TTM) (quarterly)
52.0×₹10439.0×₹78.026.0×₹52.013.0×₹26.00.0×₹0.0×16.30×₹63Mar 16Mar 18Mar 20Sep 24Jul 26
52.0×₹10439.0×₹78.026.0×₹52.013.0×₹26.00.0×₹0.0×16.30×₹63Mar 16Mar 20Jul 26
PEG 4.38 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Last 19 quarters; values above 6 pinned at the top.
above 1.0, the multiple already banks the growth
PEGPEG = 1.0
6.4×4.8×3.2×1.6×0.0××4.38×Q2 FY22Q2 FY23Q3 FY24Q3 FY25Q4 FY26
6.4×4.8×3.2×1.6×0.0××4.38×Q2 FY22Q3 FY24Q4 FY26
P/E
16.3×
51st percentile of 10y
PEG
n/m
not derivable — 3-year earnings growth unavailable

🚨 Why the multiple sits where it does: over the past year annual EPS moved −84.5% against a +22.5% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +23.2%/yr price move, ~+20.0%/yr came from earnings growth and ~+3.2 pp from the multiple (expanding); over 10y, of the +6.6%/yr price move, ~+13.0%/yr came from earnings growth and ~−6.4 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Strides Pharma Science Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE lifting at 18.0% — the per-curve reads carry the story. The read is built from 12 quarters across 3 curves, on partial evidence.

Growth, year by year: revenue +6.4% in FY26, profit −84.0% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
152%347%105%177%58%8.1%11%−161%−36%−330%%%6.4%−84%FY16FY21FY26
152%347%105%177%58%8.1%11%−161%−36%−330%%%6.4%−84%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue stabilising, profit accelerating
RevenueProfitEPS
15%348%13%174%11%0.0%8.1%−174%5.7%−348%%%8.1%55.7%79.6%Sep 23Dec 24Jun 26
15%348%13%174%11%0.0%8.1%−174%5.7%−348%%%8.1%55.7%79.6%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
19%14%9.0%3.8%−1.4%%18%FY23FY24FY26
19%14%9.0%3.8%−1.4%%18%FY23FY24FY26
Revenue growth
Steady high
latest +8.1% · span +6.4% to +14.7%
Profit growth
Rolling over
latest +55.7% · span −100.0% to +100.0%
ROCE
Rising
latest 18.0% · span 0.0%–18.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+6.4%+9.6%+7.9%+5.4%
Profit−84.0%+17.4%+19.7%
EPS−84.5%+15.1%+17.4%
Share price+22.5%+68.2%+23.2%+6.6%
Revenue YoY (Jun 26)
+12.9%
latest quarter vs a year ago
Profit YoY (Jun 26)
+55.7%
latest quarter vs a year ago
Revenue 10y
5.4%
long-run compound pace
04 · 4-Factor Sector Score

4-Factor Sector Score

46.1/100 — rank 24 of 43 in Pharma - Formulators · 80% evidence confidence

Strides Pharma Science Ltd scores 46.1 out of 100 against the 43 companies it is compared with in Pharma - Formulators, ranking 24. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 16.2 + 12.1 + 11.3 + 6.5 = 46.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Strides Pharma Science Ltd reported ₹1,265 Cr of revenue in the Jun 26 quarter, +12.9% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 5.4% a year. The last full year, FY26, came in at ₹4,859 Cr. The last four reported quarters add to ₹5,004 Cr.

FY26 revenue came in at ₹4,859 Cr (+6.4% on the year), capping 10 years at 5.4% compound. The latest quarter (Jun 26) printed ₹1,265 Cr, +12.9% year on year — the 12th consecutive quarter of year-over-year growth.

FY26 revenue ₹4,859 Cr (+6.4% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
5.4% a year over 10 years
RevenueYoY growth
5.2k152%3.9k105%2.6k58%1.3k11%0−36%₹ Cr%₹4,8596.4%FY16FY21FY26
5.2k152%3.9k105%2.6k58%1.3k11%0−36%₹ Cr%₹4,8596.4%FY16FY21FY26
Jun 26: ₹1,265 Cr (+12.9% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
12th straight quarter of growth
Revenue (quarterly)YoY growth
1.4k18%1.1k14%71410%3576.4%02.5%₹ Cr%₹1,26512.9%Sep 23Dec 24Jun 26
1.4k18%1.1k14%71410%3576.4%02.5%₹ Cr%₹1,26512.9%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +8.1% growth against the decade's 5.4% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +8.1% over the last 4 quarters against +10.4%/yr over the last 8 — stabilising; TTM profit +79.1% vs −55.9%/yr — accelerating.

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Strides Pharma Science Ltd's operating margin is 18.0% in the Jun 26 quarter, −1.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −17.0% to 19.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 18.0%, −1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −17.0%–19.0%, and FY26's 19.0% is the top of that band — a record year.

🚨 Why the margin moved: operating margin went −1.4 pp year on year while gross margin went +0.5 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26: 19.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
the widest a −17.0–19.0% band over 13 years
operating marginYoY change (pp)
22%41%11%24%1.0%7.9%−9.4%−8.5%−20%−25%%%19%1%FY14FY20FY26
22%41%11%24%1.0%7.9%−9.4%−8.5%−20%−25%%%19%1%FY14FY20FY26
Jun 26: 18.0% operating margin (−1.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
21%17%18%12%16%7.5%13%2.6%10%−2.4%%%18%−1%Sep 23Dec 24Jun 26
21%17%18%12%16%7.5%13%2.6%10%−2.4%%%18%−1%Sep 23Dec 24Jun 26
07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Strides Pharma Science Ltd earned ₹165 Cr of net profit in the Jun 26 quarter, +55.7% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹575 Cr. The 10-year compound rate is 19.7%. That is 13.0% of the quarter's revenue. The same quarter a year earlier earned ₹106 Cr.

Jun 26 profit was ₹165 Cr, +55.7% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹575 Cr (−84.0%), and the 10-year compound rate is 19.7%.

FY26 profit ₹575 Cr (−84.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
19.7% a year over 10 years
Net profitYoY growth
3.9k814%2.7k519%1.6k224%381−70%−800−365%₹ Cr%₹575−84%FY16FY21FY26
3.9k814%2.7k519%1.6k224%381−70%−800−365%₹ Cr%₹575−84%FY16FY21FY26
Jun 26: ₹165 Cr (+55.7% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
4th straight quarter of growth
Net profit (quarterly)YoY growth
3.6k881%2.6k443%1.6k0.0%586−431%−429−868%₹ Cr%₹16555.7%Sep 23Dec 24Jun 26
3.6k881%2.6k443%1.6k0.0%586−431%−429−868%₹ Cr%₹16555.7%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +12.9% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +80.0% vs revenue +8.1%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 42% of Strides Pharma Science Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹703 Cr of operating cash against ₹575 Cr of profit. After ₹644 Cr of capital spending, ₹59.0 Cr was left as free cash.

FY26: operating cash of ₹703 Cr against reported profit of ₹575 Cr, leaving free cash of ₹59.0 Cr after ₹644 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 42% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹703 Cr vs profit ₹575 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution. FY16/FY20 reflects an acquisition year — point shown clipped.
42% of 3-year profit arrived as cash
Operating cashNet profitFree cash
3.9k2.7k1.5k312−894₹ Cr₹703₹575₹59FY16FY21FY26
3.9k2.7k1.5k312−894₹ Cr₹703₹575₹59FY16FY21FY26
FY26: CFO = 122% of profit (three-year rate 42%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
323%241%159%77%−4.6%%122%FY16FY21FY26
323%241%159%77%−4.6%%122%FY16FY21FY26

🚨 Why conversion sits at 42%: the cash cycle stretched 29 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 29 days — the next section's job is to find where the cash is stuck.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Strides Pharma Science Ltd's cash conversion cycle runs 157 days in FY26, up from 128 days in FY21. Capital spending ran ₹694 Cr over the last 3 years. At FY26 sales of ₹4,859 Cr each day of that cycle holds about ₹13.3 Cr, so roughly ₹2,090 Cr sits inside the business at any moment.

FY26: debtors at 97 days, inventory at 305 days — roughly 10.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 157 days, looser than FY21's 128.

The full loop: cash goes out to suppliers and production on day 0; stock waits 305 days to sell; customers pay about 97 days after that; and suppliers themselves are paid at 244 days — netting out to the 157-day cycle.

In money terms: at FY26 sales of ₹4,859 Cr, each day of the cycle holds about ₹13.3 Cr — so the 157-day loop keeps roughly ₹2,090 Cr sitting inside the business at any moment.

FY26: a 157-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+29 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
35127119111030days157d305d97d244dFY14FY17FY20FY23FY26
35127119111030days157d305d97d244dFY14FY20FY26

On the investment side: capital spending of ₹694 Cr over the last 3 fiscal years against ₹608 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹447 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹644 Cr, work-in-progress ₹447 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
3.1k1.9k669−540−1.7k₹ Cr₹644₹447FY16FY18FY21FY23FY26
3.1k1.9k669−540−1.7k₹ Cr₹644₹447FY16FY21FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Strides Pharma Science Ltd earns a ROCE of 18% in FY26. That is up from a trough of −5% in FY22. Return on invested capital clears the cost of that capital by −0.2 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 11.8% net margin on 0.71× asset turns.

FY26 ROCE is 18%, recovered from a FY22 trough of −5% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 11.8% net margin × 0.71× asset turns × 2.19× balance-sheet leverage ≈ 18.3% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 11.8% − 12.0% = a −0.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 18% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY22's −5%
ROCEROIC (annual)WACC
122%88%54%20%−14%%18%13.9%FY14FY20FY26
122%88%54%20%−14%%18%13.9%FY14FY20FY26
Q4 FY26: ROCE 17.9% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
26%2.5%−21%−45%−69%%17.9%13.8%Q1 FY24Q2 FY25Q4 FY26
26%2.5%−21%−45%−69%%17.9%13.8%Q1 FY24Q2 FY25Q4 FY26
11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Strides Pharma Science Ltd carries total debt of ₹1,758 Cr against shareholder equity of ₹3,149 Cr as of Mar 26, a debt-to-equity of 0.56. On the annual view that ratio went from 1.27 in FY22 to 0.56 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹1,758 Cr against shareholder equity of ₹3,149 Cr — a debt-to-equity of 0.56. On the annual view, debt-to-equity went from 1.27 (FY22) to 0.56 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹1,758 Cr at 0.56× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
3.3k1.5×2.5k1.2×1.6k1.0×8180.7×00.5×₹ Cr×₹1,7580.56×FY22FY24FY26
3.3k1.5×2.5k1.2×1.6k1.0×8180.7×00.5×₹ Cr×₹1,7580.56×FY22FY24FY26
Mar 26: debt ₹1,758 Cr, debt-to-equity 0.56 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
3.3k1.5×2.5k1.2×1.6k1.0×8180.7×00.5×₹ Cr×₹1,7580.56×Jun 23Sep 24Mar 26
3.3k1.5×2.5k1.2×1.6k1.0×8180.7×00.5×₹ Cr×₹1,7580.56×Jun 23Sep 24Mar 26
12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 2.8 points of Strides Pharma Science Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 15.4% of the company. Promoters moved +2.1 points over the same window, to 27.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −2.8 points over 8 quarters to 15.4%; Promoters: +2.1 points over 8 quarters to 27.9%; Foreign institutions: +1.7 points over 8 quarters to 28.4%.

Why the register moved: rotation — foreign institutions +1.7 points against domestic institutions −2.8 points over 8 quarters, with promoters +2.1 points — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

Fiscal-year ends: promoters +2.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
33%28%23%17%12%%27.9%28.7%14.4%29.0%Mar 24Mar 25Mar 26
33%28%23%17%12%%27.9%28.7%14.4%29.0%Mar 24Mar 25Mar 26
Domestic institutions cut 2.8 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
37%31%24%18%11%%27.9%28.4%15.4%28.3%Jun 23Dec 24Jun 26
37%31%24%18%11%%27.9%28.4%15.4%28.3%Jun 23Dec 24Jun 26
13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Strides Pharma Science Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

14 · Related companies · Pharma - Formulators
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Lupin LtdLUPIN 74.1/100Favorable setup89% evidence TURNING 29.7/35 Revenue 23.1% · PAT 62% · OPM change 10 pp 88% evidence 21.0/25 ROCE 29.9% · OPM 33% 100% evidence 16.3/20 P/E 19.4× · PEG 0.54 65% evidence 7.1/20 RS sector -7.4% · RS bench 9% · 1Y 23.8%2 of 12 weeks ahead 100% evidence
Exact sum: 29.7 + 21 + 16.3 + 7.1 = 74.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Kwality Pharmaceuticals Ltd539997 72.8/100Favorable setup78% evidence LEADER 29.0/35 Revenue 35.7% · PAT 71.8% · OPM change 3 pp 83% evidence 17.8/25 ROCE 24.2% · OPM 25% 76% evidence 6.4/20 P/E 39.4× · PEG — 50% evidence 19.6/20 RS sector 51.5% · RS bench 73.2% · 1Y 121.3%12 of 12 weeks ahead 100% evidence
Exact sum: 29 + 17.8 + 6.4 + 19.6 = 72.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
3Caplin Point Laboratories LtdCAPLIPOINT 68.3/100Favorable setup96% evidence LEADER 19.6/35 Revenue 12.9% · PAT 20.1% · OPM change 1 pp 88% evidence 18.9/25 ROCE 24.6% · OPM 34% 100% evidence 12.1/20 P/E 29.8× · PEG 0.99 100% evidence 17.7/20 RS sector 5.7% · RS bench 24.1% · 1Y 23.6%12 of 12 weeks ahead 100% evidence
Exact sum: 19.6 + 18.9 + 12.1 + 17.7 = 68.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Bliss GVS Pharma LtdBLISSGVS 66.9/100Favorable setup78% evidence LEADER 27.2/35 Revenue 14.3% · PAT 48.4% · OPM change 6 pp 83% evidence 13.2/25 ROCE 16.9% · OPM 17% 76% evidence 6.9/20 P/E 37.5× · PEG — 50% evidence 19.6/20 RS sector 64.6% · RS bench 87.2% · 1Y 203.1%12 of 12 weeks ahead 100% evidence
Exact sum: 27.2 + 13.2 + 6.9 + 19.6 = 66.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Glenmark Pharmaceuticals LtdGLENMARK 65.8/100Favorable setup100% evidence ASLEEP 30.5/35 Revenue 32.9% · PAT 100% · OPM change 2 pp 100% evidence 17.5/25 ROCE 39.8% · OPM 20% 100% evidence 12.2/20 P/E 20.2× · PEG 1.43 100% evidence 5.6/20 RS sector -10.3% · RS bench 5.6% · 1Y 4.1%3 of 12 weeks ahead 100% evidence
Exact sum: 30.5 + 17.5 + 12.2 + 5.6 = 65.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -10.3% and the one-year return is 4.1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
6Emcure Pharmaceuticals LtdEMCURE 65.4/100Favorable setup71% evidence LEADER 24.6/35 Revenue 16.6% · PAT 32.9% · OPM change 0 pp 83% evidence 17.9/25 ROCE 24% · OPM 19% 76% evidence 9.4/20 P/E 39.3× · PEG — 15% evidence 13.5/20 RS sector 7.1% · RS bench 25.6% · 1Y 39.2%11 of 12 weeks ahead 100% evidence
Exact sum: 24.6 + 17.9 + 9.4 + 13.5 = 65.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
7Corona Remedies LtdCORONA 64.5/100Mixed-positive evidence73% evidence BREAKING OUT 23.7/35 Revenue 18% · PAT 19.3% · OPM change 2 pp 100% evidence 19.4/25 ROCE 33.3% · OPM 22% 100% evidence 11.4/20 P/E 60.5× · PEG 1.18 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —9 of 12 weeks ahead 0% evidence
Exact sum: 23.7 + 19.4 + 11.4 + 10 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Ajanta Pharma LtdAJANTPHARM 61.4/100Mixed-positive evidence100% evidence BREAKING OUT 21.9/35 Revenue 20.2% · PAT 22.2% · OPM change -1 pp 100% evidence 18.9/25 ROCE 34.5% · OPM 26% 100% evidence 5.7/20 P/E 38.2× · PEG 2.31 100% evidence 14.9/20 RS sector 3.1% · RS bench 21% · 1Y 24.5%7 of 12 weeks ahead 100% evidence
Exact sum: 21.9 + 18.9 + 5.7 + 14.9 = 61.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
9Zydus Lifesciences LtdZYDUSLIFE 61.2/100Mixed-positive evidence96% evidence LEADER 17.1/35 Revenue 16.8% · PAT 9.7% · OPM change 1 pp 88% evidence 17.8/25 ROCE 21.1% · OPM 34% 100% evidence 13.9/20 P/E 20.7× · PEG 1.4 100% evidence 12.4/20 RS sector -3.3% · RS bench 13.8% · 1Y 15.4%12 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 17.8 + 13.9 + 12.4 = 61.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Rubicon Research LtdRUBICON 60.9/100Mixed-positive evidence69% evidence BREAKING OUT 23.9/35 Revenue 36.6% · PAT 84.3% · OPM change 3 pp 88% evidence 21.4/25 ROCE 28.4% · OPM 23% 100% evidence 5.6/20 P/E 99.9× · PEG 2.65 65% evidence 10.0/20 RS sector — · RS bench — · 1Y —12 of 12 weeks ahead 0% evidence
Exact sum: 23.9 + 21.4 + 5.6 + 10 = 60.9 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
11Ipca Laboratories LtdIPCALAB 58.9/100Mixed-positive evidence78% evidence BREAKING OUT 22.2/35 Revenue 7.9% · PAT 51% · OPM change 1 pp 83% evidence 15.3/25 ROCE 17% · OPM 20% 76% evidence 11.0/20 P/E 37.6× · PEG — 50% evidence 10.4/20 RS sector -2% · RS bench 15.1% · 1Y 15.8%7 of 12 weeks ahead 100% evidence
Exact sum: 22.2 + 15.3 + 11 + 10.4 = 58.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Marksans Pharma LtdMARKSANS 58.3/100Mixed-positive evidence83% evidence TURNING 19.9/35 Revenue 12.5% · PAT 9.7% · OPM change 5 pp 88% evidence 18.1/25 ROCE 18.8% · OPM 23% 100% evidence 11.5/20 P/E 28× · PEG 1.41 65% evidence 8.8/20 RS sector -18.1% · RS bench 30.6% · 1Y 13.4%11 of 11 weeks ahead 70% evidence
Exact sum: 19.9 + 18.1 + 11.5 + 8.8 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Wockhardt LtdWOCKPHARMA 58.1/100Mixed-positive evidence71% evidence LEADER 22.6/35 Revenue 12% · PAT 100% · OPM change 14 pp 65% evidence 9.0/25 ROCE 7.5% · OPM 23% 100% evidence 8.7/20 P/E 112× · PEG — 15% evidence 17.8/20 RS sector 10.5% · RS bench 29.2% · 1Y 16.8%12 of 12 weeks ahead 100% evidence
Exact sum: 22.6 + 9 + 8.7 + 17.8 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Accent Microcell LtdACCENTMIC 58.1/100Mixed-positive evidence63% evidence LEADER 17.5/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 16.9/25 ROCE 24.9% · OPM 16% 95% evidence 9.7/20 P/E 27.8× · PEG — 50% evidence 14.0/20 RS sector 18.5% · RS bench 37.8% · 1Y 85.3%12 of 12 weeks ahead 100% evidence
Exact sum: 17.5 + 16.9 + 9.7 + 14 = 58.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Amrutanjan Health Care LtdAMRUTANJAN 55.9/100Mixed-positive evidence77% evidence ASLEEP 20.9/35 Revenue 11.3% · PAT 11.8% · OPM change 4 pp 83% evidence 17.0/25 ROCE 24.8% · OPM 17% 95% evidence 14.2/20 P/E 23.1× · PEG — 50% evidence 3.8/20 RS sector -24.6% · RS bench -18.4% · 1Y -24.2%0 of 10 weeks ahead 70% evidence
Exact sum: 20.9 + 17 + 14.2 + 3.8 = 55.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16RPG Life Sciences LtdRPGLIFE 54.0/100Mixed-positive evidence93% evidence LEADER 11.8/35 Revenue 11.9% · PAT -34.1% · OPM change 1 pp 100% evidence 17.3/25 ROCE 25.7% · OPM 22% 100% evidence 10.2/20 P/E 39.2× · PEG 1.43 65% evidence 14.7/20 RS sector 2.5% · RS bench 20.8% · 1Y 11.1%12 of 12 weeks ahead 100% evidence
Exact sum: 11.8 + 17.3 + 10.2 + 14.7 = 54 · Decision use: Price leads the evidence: RS versus the benchmark is 20.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
17Kilitch Drugs (India) LtdKILITCH 53.7/100Mixed-positive evidence83% evidence BREAKING OUT 18.2/35 Revenue 19.8% · PAT 16% · OPM change 1 pp 83% evidence 10.7/25 ROCE 14.4% · OPM 25% 95% evidence 14.0/20 P/E 21.6× · PEG — 50% evidence 10.8/20 RS sector -10.2% · RS bench 6.2% · 1Y -15%10 of 12 weeks ahead 100% evidence
Exact sum: 18.2 + 10.7 + 14 + 10.8 = 53.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Alkem Laboratories LtdALKEM 53.6/100Mixed-positive evidence78% evidence TURNING 19.8/35 Revenue 13.5% · PAT 6.1% · OPM change 2 pp 83% evidence 16.3/25 ROCE 21.2% · OPM 14% 76% evidence 11.9/20 P/E 28.2× · PEG — 50% evidence 5.6/20 RS sector -12.9% · RS bench 3% · 1Y 14.8%2 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 16.3 + 11.9 + 5.6 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19FDC LtdFDC 52.2/100Mixed-positive evidence90% evidence TURNING 16.7/35 Revenue 3% · PAT 4.9% · OPM change 7 pp 88% evidence 14.8/25 ROCE 16.7% · OPM 18% 100% evidence 15.7/20 P/E 22.5× · PEG 0.93 100% evidence 5.0/20 RS sector -25.2% · RS bench -0.4% · 1Y -16.2%6 of 10 weeks ahead 70% evidence
Exact sum: 16.7 + 14.8 + 15.7 + 5 = 52.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20ERIS Lifesciences LtdERIS 51.6/100Mixed-positive evidence76% evidence TURNING 21.0/35 Revenue 9.6% · PAT 62.2% · OPM change -2 pp 95% evidence 14.1/25 ROCE 14.1% · OPM 34% 76% evidence 11.1/20 P/E 28.6× · PEG — 50% evidence 5.4/20 RS sector -13.9% · RS bench -10.4% · 1Y -24.6%0 of 10 weeks ahead 70% evidence
Exact sum: 21 + 14.1 + 11.1 + 5.4 = 51.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Akums Drugs & Pharmaceuticals LtdAKUMS 51.0/100Mixed-positive evidence71% evidence LEADER 13.9/35 Revenue 5.9% · PAT -25.3% · OPM change 4 pp 83% evidence 10.3/25 ROCE 14.9% · OPM 13% 76% evidence 9.6/20 P/E 38.6× · PEG — 15% evidence 17.2/20 RS sector 11.1% · RS bench 29.9% · 1Y 24.2%12 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 10.3 + 9.6 + 17.2 = 51 · Decision use: Price leads the evidence: RS versus the benchmark is 29.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
22J B Chemicals & Pharmaceuticals LtdJBCHEPHARM 47.1/100Mixed-negative evidence96% evidence 11.1/35 Revenue 5.9% · PAT 7.4% · OPM change -2 pp 88% evidence 19.9/25 ROCE 25.4% · OPM 22% 100% evidence 3.7/20 P/E 53.8× · PEG 2.34 100% evidence 12.4/20 RS sector 2.9% · RS bench 23.5% · 1Y 41%6 of 10 weeks ahead 100% evidence
Exact sum: 11.1 + 19.9 + 3.7 + 12.4 = 47.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
23Sun Pharmaceutical Industries LtdSUNPHARMA 46.4/100Mixed-negative evidence100% evidence BREAKING OUT 17.8/35 Revenue 11.4% · PAT 16.5% · OPM change -2 pp 100% evidence 16.3/25 ROCE 20.5% · OPM 29% 100% evidence 4.0/20 P/E 37.8× · PEG 3.8 100% evidence 8.3/20 RS sector -4.7% · RS bench 12.3% · 1Y 17.2%7 of 12 weeks ahead 100% evidence
Exact sum: 17.8 + 16.3 + 4 + 8.3 = 46.4 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
24Strides Pharma Science Ltdthis pageSTAR 46.1/100Mixed-negative evidence80% evidence FADING 16.2/35 Revenue 8.1% · PAT 79.1% · OPM change -1 pp 95% evidence 12.1/25 ROCE 18.3% · OPM 18% 95% evidence 11.3/20 P/E 16.3× · PEG — 15% evidence 6.5/20 RS sector -9.2% · RS bench 6.6% · 1Y 12.9%9 of 12 weeks ahead 100% evidence
Exact sum: 16.2 + 12.1 + 11.3 + 6.5 = 46.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25Torrent Pharmaceuticals LtdTORNTPHARM 45.5/100Mixed-negative evidence100% evidence BREAKING OUT 16.7/35 Revenue 32.9% · PAT 7.7% · OPM change 2 pp 100% evidence 13.2/25 ROCE 15.2% · OPM 34% 100% evidence 0.9/20 P/E 87.3× · PEG 5.11 100% evidence 14.7/20 RS sector 5.4% · RS bench 23.6% · 1Y 41.6%7 of 12 weeks ahead 100% evidence
Exact sum: 16.7 + 13.2 + 0.9 + 14.7 = 45.5 · Decision use: Price leads the evidence: RS versus the benchmark is 23.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
26Biocon LtdBIOCON 42.5/100Mixed-negative evidence96% evidence BREAKING OUT 12.1/35 Revenue 10.9% · PAT -74.2% · OPM change -1 pp 88% evidence 10.8/25 ROCE 3.6% · OPM 23% 100% evidence 9.9/20 P/E 178× · PEG 0.82 100% evidence 9.7/20 RS sector -7.4% · RS bench 9% · 1Y 8%8 of 12 weeks ahead 100% evidence
Exact sum: 12.1 + 10.8 + 9.9 + 9.7 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27Mankind Pharma LtdMANKIND 42.4/100Mixed-negative evidence100% evidence BREAKING OUT 17.1/35 Revenue 14.2% · PAT 8% · OPM change 2 pp 100% evidence 12.6/25 ROCE 13.5% · OPM 26% 100% evidence 4.9/20 P/E 47.8× · PEG 2.81 100% evidence 7.8/20 RS sector -11.1% · RS bench 4.9% · 1Y -5.1%10 of 12 weeks ahead 100% evidence
Exact sum: 17.1 + 12.6 + 4.9 + 7.8 = 42.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
28Gufic BioSciences LtdGUFICBIO 41.9/100Mixed-negative evidence90% evidence TURNING 19.6/35 Revenue 15.1% · PAT -8.6% · OPM change 6 pp 88% evidence 12.6/25 ROCE 12.3% · OPM 19% 100% evidence 2.0/20 P/E 60.9× · PEG 4.78 100% evidence 7.7/20 RS sector -18.5% · RS bench 14.8% · 1Y 0.7%9 of 11 weeks ahead 70% evidence
Exact sum: 19.6 + 12.6 + 2 + 7.7 = 41.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Aurobindo Pharma LtdAUROPHARMA 41.1/100Mixed-negative evidence96% evidence LEADER 11.5/35 Revenue 6.1% · PAT 0.6% · OPM change -1 pp 88% evidence 13.3/25 ROCE 12.8% · OPM 20% 100% evidence 4.1/20 P/E 25.9× · PEG 2.67 100% evidence 12.2/20 RS sector 4.4% · RS bench 22.3% · 1Y 40.7%11 of 12 weeks ahead 100% evidence
Exact sum: 11.5 + 13.3 + 4.1 + 12.2 = 41.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
30Natco Pharma LtdNATCOPHARM 39.8/100Mixed-negative evidence96% evidence ASLEEP 5.1/35 Revenue -8% · PAT -24.6% · OPM change -28 pp 88% evidence 12.9/25 ROCE 17.1% · OPM 17% 100% evidence 19.1/20 P/E 11.6× · PEG 0.76 100% evidence 2.7/20 RS sector -17.3% · RS bench -2.6% · 1Y -5.2%2 of 12 weeks ahead 100% evidence
Exact sum: 5.1 + 12.9 + 19.1 + 2.7 = 39.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
31Lincoln Pharmaceuticals LtdLINCOLN 39.4/100Mixed-negative evidence83% evidence ASLEEP 11.6/35 Revenue 7.5% · PAT 7.2% · OPM change -3 pp 83% evidence 14.2/25 ROCE 16.3% · OPM 13% 95% evidence 9.8/20 P/E 13.2× · PEG — 50% evidence 3.8/20 RS sector -14.7% · RS bench 0.2% · 1Y 6.4%1 of 12 weeks ahead 100% evidence
Exact sum: 11.6 + 14.2 + 9.8 + 3.8 = 39.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Zim Laboratories LtdZIMLAB 39.1/100Mixed-negative evidence76% evidence LEADER 6.0/35 Revenue -1.2% · PAT -51.9% · OPM change -6.6 pp 83% evidence 6.1/25 ROCE 4.8% · OPM 6.8% 95% evidence 8.7/20 P/E 139× · PEG — 15% evidence 18.3/20 RS sector 16.5% · RS bench 35.4% · 1Y 0%12 of 12 weeks ahead 100% evidence
Exact sum: 6 + 6.1 + 8.7 + 18.3 = 39.1 · Decision use: Price leads the evidence: RS versus the benchmark is 35.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
33Suven Life Sciences LtdSUVEN 38.4/100Thin evidence · provisional58% evidence TURNING 18.2/35 Revenue 14.3% · PAT -72% · OPM change -350 pp 65% evidence 2.1/25 ROCE -76.9% · OPM — 84% evidence 10.0/20 P/E — · PEG — 0% evidence 8.1/20 RS sector -30.9% · RS bench 46.4% · 1Y 9.2%11 of 11 weeks ahead 70% evidence
Exact sum: 18.2 + 2.1 + 10 + 8.1 = 38.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
34Indoco Remedies LtdINDOCO 38.2/100Thin evidence · provisional58% evidence TURNING 20.4/35 Revenue 11.9% · PAT 100% · OPM change 5 pp 71% evidence 4.3/25 ROCE 0.9% · OPM 9% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 3.5/20 RS sector -32.2% · RS bench -9.2% · 1Y -30.8%6 of 10 weeks ahead 70% evidence
Exact sum: 20.4 + 4.3 + 10 + 3.5 = 38.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
35Alembic Pharmaceuticals LtdAPLLTD 38.1/100Mixed-negative evidence90% evidence TURNING 14.4/35 Revenue 10.1% · PAT 15.3% · OPM change -3 pp 88% evidence 6.9/25 ROCE 12.6% · OPM 12% 100% evidence 12.3/20 P/E 21.4× · PEG 1.74 100% evidence 4.5/20 RS sector -24.1% · RS bench -4.7% · 1Y -20.1%2 of 11 weeks ahead 70% evidence
Exact sum: 14.4 + 6.9 + 12.3 + 4.5 = 38.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
36Bajaj Healthcare LtdBAJAJHCARE 36.0/100Mixed-negative evidence87% evidence FADING 9.9/35 Revenue 12.3% · PAT -59.1% · OPM change 1 pp 95% evidence 10.4/25 ROCE 11.5% · OPM 17% 95% evidence 10.8/20 P/E 20.1× · PEG — 50% evidence 4.9/20 RS sector -26.4% · RS bench -12.1% · 1Y -34.9%2 of 12 weeks ahead 100% evidence
Exact sum: 9.9 + 10.4 + 10.8 + 4.9 = 36 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Cipla LtdCIPLA 35.9/100Mixed-negative evidence100% evidence BREAKING OUT 4.9/35 Revenue 1.8% · PAT -37.7% · OPM change -9 pp 100% evidence 11.3/25 ROCE 15.5% · OPM 17% 100% evidence 12.1/20 P/E 33.2× · PEG 1.25 100% evidence 7.6/20 RS sector -14.5% · RS bench 1.3% · 1Y -3.9%7 of 12 weeks ahead 100% evidence
Exact sum: 4.9 + 11.3 + 12.1 + 7.6 = 35.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
38Bharat Parenterals Ltd541096 34.7/100Thin evidence · provisional55% evidence TURNING 13.5/35 Revenue 1.5% · PAT 37.5% · OPM change -2.7 pp 62% evidence 3.5/25 ROCE -1.8% · OPM -0.5% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 7.7/20 RS sector -20.9% · RS bench 17.8% · 1Y -5.2%11 of 11 weeks ahead 70% evidence
Exact sum: 13.5 + 3.5 + 10 + 7.7 = 34.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
39Dr Reddys Laboratories LtdDRREDDY 29.9/100Adverse evidence100% evidence ASLEEP 4.1/35 Revenue -0.9% · PAT -44.6% · OPM change -14 pp 100% evidence 10.7/25 ROCE 13% · OPM 11% 100% evidence 13.5/20 P/E 29.7× · PEG 1.15 100% evidence 1.6/20 RS sector -24.3% · RS bench -10.6% · 1Y -10.2%2 of 12 weeks ahead 100% evidence
Exact sum: 4.1 + 10.7 + 13.5 + 1.6 = 29.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
40Influx Healthtech LtdINFLUX 65.1/100Thin evidence · provisional50% evidence BREAKING OUT 19.1/35 Revenue — · PAT — · OPM change -1 pp 26% evidence 20.3/25 ROCE 40% · OPM 19% 95% evidence 10.0/20 P/E 33.4× · PEG — 15% evidence 15.7/20 RS sector 12.1% · RS bench 31.1% · 1Y 90.7%9 of 12 weeks ahead 70% evidence
Exact sum: 19.1 + 20.3 + 10 + 15.7 = 65.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
41Syncom Healthcare LtdSYNCOM 50.5/100Thin evidence · provisional31% evidence 17.2/35 Revenue -69.4% · PAT 63.5% · OPM change — 16% evidence 6.9/25 ROCE -20.2% · OPM -225.7% 46% evidence 10.0/20 P/E — · PEG — 0% evidence 16.4/20 RS sector 29.1% · RS bench 45.7% · 1Y —9 of 12 weeks ahead to 2021-06-30 70% evidence
Exact sum: 17.2 + 6.9 + 10 + 16.4 = 50.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
42Fredun Pharmaceuticals Ltd539730 47.8/100Thin evidence · provisional49% evidence ASLEEP 19.1/35 Revenue — · PAT — · OPM change 4 pp 20% evidence 14.7/25 ROCE 21.3% · OPM 14% 76% evidence 9.2/20 P/E 50× · PEG — 15% evidence 4.8/20 RS sector -45.5% · RS bench 59.4% · 1Y 6.5%2 of 12 weeks ahead 100% evidence
Exact sum: 19.1 + 14.7 + 9.2 + 4.8 = 47.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43Sai Parenterals LtdSAIPARENT 39.1/100Thin evidence · provisional33% evidence TURNING 15.2/35 Revenue — · PAT — · OPM change — 16% evidence 5.3/25 ROCE 6% · OPM 13% 95% evidence 8.6/20 P/E 170× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —3 of 3 weeks ahead 0% evidence
Exact sum: 15.2 + 5.3 + 8.6 + 10 = 39.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

15 · Frequently asked questions

Frequently asked questions

What is Strides Pharma Science Ltd's share price today?

Strides Pharma Science Ltd trades at ₹1,025, +22.5% over the past year. The company is valued at ₹9,448 Cr. The stock sits at 63% of its 52-week range of ₹796–₹1,157, +5.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 166 weeks in. — as of 31 July 2026.

What were Strides Pharma Science Ltd's latest quarterly results?

Strides Pharma Science Ltd reported revenue of ₹1,265 Cr and net profit of ₹165 Cr for the Jun 26 quarter. Revenue rose 12.9% and profit rose 55.7% year on year. Earnings per share were ₹17.02. The operating margin was 18.0%, 1.0 pp lower than a year earlier. — as of 31 July 2026.

What is Strides Pharma Science Ltd's revenue?

Strides Pharma Science Ltd reported revenue of ₹1,265 Cr in the Jun 26 quarter, +12.9% year on year. For the full FY26 fiscal year, revenue was ₹4,859 Cr (+6.4%). Over the last 10 years revenue compounded at 5.4% a year. — as of 31 July 2026.

What is Strides Pharma Science Ltd's profit?

Strides Pharma Science Ltd earned ₹165 Cr of net profit in the Jun 26 quarter, +55.7% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹575 Cr. The operating margin ran 18.0% in the latest quarter. — as of 31 July 2026.

What is Strides Pharma Science Ltd's market cap?

Strides Pharma Science Ltd's market capitalisation is ₹9,448 Cr at a share price of ₹1,025. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.

What is Strides Pharma Science Ltd's P/E ratio?

Strides Pharma Science Ltd trades at a P/E of 16.3×, at the 51st percentile of its own 10-year range, against a long-run median of 16.1×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.

Does Strides Pharma Science Ltd pay a dividend?

Yes — Strides Pharma Science Ltd's dividend payout was 8% of profit in FY26, and it recorded a payout in 10 of its last 13 reported fiscal years. 2 of those years show a negative ratio because profit itself was negative. — as of 31 July 2026.

Is Strides Pharma Science Ltd overvalued?

On its own history, Strides Pharma Science Ltd looks mid-range against its own history: its P/E of 16.3× sits at the 51st percentile of its 10-year range (long-run median 16.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.

Is Strides Pharma Science Ltd growing?

Yes — Strides Pharma Science Ltd is growing: latest-quarter revenue +12.9% year on year, profit +55.7%, and the margin −1.0 pp at 18.0%. The 10-year compound rates are 5.4% (revenue) and 19.7% (profit). The earnings engine currently reads: improving — as of 31 July 2026.

How is Strides Pharma Science Ltd performing?

Strides Pharma Science Ltd is in a confirmed uptrend, 166 weeks in. Its latest quarter's revenue rose 12.9% and profit rose 55.7% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 31 July 2026.

What stage is Strides Pharma Science Ltd in?

Mixed — no clean majority across the growth curves, ROCE lifting at 18.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +8.1% latest, profit growth +55.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.

Is Strides Pharma Science Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 166 of stage 2), trading +5.0% versus its 200-day average and at 63% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.

Is Strides Pharma Science Ltd beating the market?

Not lately — on a trailing-13-week view Strides Pharma Science Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-25), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +105% against the NIFTY 500's +276% — behind the index over the full window. — as of 31 July 2026.

Will Strides Pharma Science Ltd's share price go up?

This page publishes no price forecast for Strides Pharma Science Ltd. What it measures instead: the share price is ₹1,025, the price is in a confirmed uptrend 166 weeks in. Its P/E of 16.3× sits at the 51st percentile of its own 10-year range. — as of 31 July 2026.

Who owns Strides Pharma Science Ltd?

Promoters hold 27.9% of Strides Pharma Science Ltd, foreign institutions 28.4%, domestic institutions 15.4% and the public 28.3% (latest quarter). The biggest move on the register over the last two years: Domestic institutions cut 2.8 points over 8 quarters. — as of 31 July 2026.

Does Strides Pharma Science Ltd have too much debt?

It is moderate — Strides Pharma Science Ltd's debt-to-equity is 0.57, and operating profit covers the interest bill 5×. FY26 borrowings were ₹1,758 Cr against equity of ₹3,107 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.

What is Strides Pharma Science Ltd's capex?

Strides Pharma Science Ltd spent ₹694 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹644 Cr, with ₹447 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.

What is Strides Pharma Science Ltd's cash flow?

Strides Pharma Science Ltd generated ₹703 Cr of operating cash flow in FY26 and ₹59.0 Cr of free cash flow after ₹644 Cr of capital spending. Reported profit that year was ₹575 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.

Is Strides Pharma Science Ltd's profit real cash?

Not fully — over the last 3 fiscal years, 42% of Strides Pharma Science Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹703 Cr against reported profit of ₹575 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 31 July 2026.

Where is Strides Pharma Science Ltd in its business cycle?

Strides Pharma Science Ltd's FY26 operating margin was 19.0%, against a 13-year band of −17.0%–19.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 18.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.

What could break the Strides Pharma Science Ltd story?

The sharpest disagreement: profits are rising, but only 42% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.

Is Strides Pharma Science Ltd a stock worth studying right now?

This is not investment advice. The machine read: Strides Pharma Science Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.

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